Wil­liam Hill bets on deal for Mr Green

Irish Independent - Business Week - - FRONT PAGE -

GAM­BLING gi­ant Wil­liam Hill is to buy Swe­den-based on­line bet­ting firm Mr Green & Co for €271m.

Mr Green cur­rently has on­line gam­bling li­cences in Ire­land, Bri­tain, Den­mark, Italy, Latvia, and Malta, and ex­pects to ob­tain Swedish li­cences by the end of the year. Wil­liam Hill said yes­ter­day that it will of­fer SEK 69 (€6.63) in cash per share for the busi­ness, with the to­tal of­fer amount­ing to SEK 2,819m (€271m), a 48.5pc pre­mium on its clos­ing price on Oc­to­ber 30.

Wil­liam Hill CEO Philip Bow­cock said: “This pro­posed ac­qui­si­tion ac­cel­er­ates the di­ver­si­fi­ca­tion of Wil­liam Hill – im­me­di­ately mak­ing us a more dig­i­tal and more in­ter­na­tional busi­ness.

“Wil­liam Hill will move from a sin­gle brand to a suite of brands that can max­imise growth op­por­tu­ni­ties mov­ing forward in new and ex­ist­ing mar­kets.”

The deal will re­duce its ex­po­sure to the UK mar­ket, which has been sub­ject to in­creased reg­u­la­tion in re­cent months.

PA

Wil­liam Hill CEO Philip Bow­cock backed the move

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